Mississippi Industrial Revenue Bonds

Mississippi Business Finance Corporation

Program Type:

Loan

Eligible Geography:

Mississippi

Program URL:

https://static1.squarespace.com/static/5e333097506cfd6ba57af8de/t/5e568b11dbe06a62fbf9c678/1582730001588/MBFC+Tax+Exempt+Financing+Summary.pdf

Summary:

The Industrial Development Revenue Bond Program reduces the interest costs of financing projects for companies, through the issuance of both taxable and tax-exempt bonds. Its objective is to reduce the interest costs of financing projects for companies through the issuance of both taxable and tax-exempt bonds. General parameters: Interest rate to borrower generally 70-80% of taxable rate. 95% of net bond proceeds must be spent on capital assets. Issuance costs may not exceed 2% of net bond proceeds. Bond maturity may not be greater than 120% of average expected economic life of equipment. Special terms financing available for small issue manufacturing facilities.

Eligible Recipients:

For-Profit Business; Non-Profit Organization; Higher Education Institution; Anchor Institution

Eligible Recipients Detail:

The bonds may be used to finance qualified manufacturing facilities, non-profit 501(c)(3) facilities and solid waste disposal facilities.

Eligible Purpose:

Last Mile Infrastructure; Anchor Institution Infrastructure; Building Infrastructure; Broadband Enabled Devices

Eligible Purpose Detail:

Acquisition, rehabilitation or construction and Acquisition of new equipment for: Educational Facilities; Healthcare Facilities; Charitable Organizations; Small Issue Manufacturing Facilities; Solid Waste Disposal Facilities.

Funding Match/Terms:

General parameters: Interest rate to borrower generally 70-80% of taxable rate. 95% of net bond proceeds must be spent on capital assets. Issuance costs may not exceed 2% of net bond proceeds. Bond maturity may not be greater than 120% of average expected economic life of equipment. For more information see the website.